Video Credit- Jack Morgan RLP, YouTube 2024
Have you heard of "Doom spending"? Supposedly, since inflation is so bad and people are giving up on buying houses they are spending hedonistically.
I think people have always lived above their means, and Doom Spending is nothing new. Sure, inflation is bad but saving money for emergencies and large down payments is key. You cannot simply Doom spend yourself to success.
What is your opinion? Are people really out here soon spending and adding to inflation? I can see both sides of the argument, but I'm not about to put myself and my household into peril over luxury goods.
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